Silver Price Volatility Hits Salem Anklet Manufacturers

The silver anklet manufacturing industry in Salem district has been severely impacted by volatile silver prices. According to C. Sree Anandharajan, president of the Salem Silver Anklet Manufacturers' Handicraft Welfare Association, the price fluctuations have affected orders for the last six months. This has resulted in workers receiving jobs only two to three times a week, leading many to shift to other employment opportunities.

Over 1,000 silver anklet manufacturing units in Salem provide direct and indirect employment to more than 50,000 workers. The price of silver bullion has fluctuated significantly over the past few months, ranging from ₹3.18 lakh per kg on January 1 to ₹2.38 lakh per kg currently.

Many small and medium manufacturers have been severely affected by these price fluctuations, as they rely heavily on family members working in the industry. The demand for silver anklets has also fallen at retail outlets due to changing market trends and consumer preferences.